Effortless IFRS17 Compliance Powered by AI
Navigating IFRS17 compliance just got simpler. Praxi AI pairs expert workflows with deep compliance expertise to deliver audit-ready reports, seamless integrations and unrivaled accuracy.
Why IFRS17 Compliance Matters
IFRS17 introduces significant new complexities for insurers, demanding a higher level of precision, transparency, and efficiency in financial reporting.
The standard requires insurers to overhaul their data management, actuarial calculations, and financial disclosures to ensure compliance.
However, many insurers still rely on manual processes and outdated systems, which can lead to:
Costly errors and compliance risks
Missed deadlines due to inefficiencies
Bottlenecks in collaboration between finance, actuarial, and tech teams
It’s time to rethink how you approach IFRS17.
What Praxi AI Offers
Praxi AI empowers insurers with a smart, streamlined approach to IFRS17 compliance, helping organizations navigate complex regulations with ease and efficiency.
1. Automated Data Processing
Eliminate the inefficiencies of manual data handling. Praxi AI automates the entire process of data ingestion, transformation, and validation, reducing errors and ensuring your data is accurate and consistent. With this feature, you save time and free up your team to focus on high-value tasks instead of repetitive, labor-intensive work.
2. Workflow Orchestration
Create and customize end-to-end workflows that are perfectly aligned with your organization’s unique needs. This feature improves teamwork and boosts operational efficiency by allowing multiple teams to work cohesively while keeping every step of the process under control. You’ll have complete oversight of your workflows, ensuring nothing slips through the cracks at any stage.
3. Built-in Validation and Traceability
Stay compliant without lifting a finger. Praxi AI comes with robust audit trails and fully traceable reporting, documenting every action and change made to your data. This ensures you meet even the most stringent regulatory requirements with ease. By offering full transparency and accountability, Praxi AI gives you confidence in your data and peace of mind during audits.
4. Dynamic Dashboards
Stay informed and make smarter decisions with real-time insights delivered through Praxi AI’s intuitive dashboards. These dashboards present your data in a clear and easily digestible format, giving you instant access to key metrics and trends. Whether you’re analyzing performance or identifying opportunities, you’ll always have the information you need at your fingertips to drive results.
5. Seamless Integration
Future-proof your operations with Praxi AI’s ability to integrate effortlessly into your existing systems and workflows. Whether you’re managing legacy platforms or using cutting-edge tools, Praxi AI ensures smooth compatibility, minimizing disruptions and maximizing productivity. With this level of flexibility, your organization can adapt to change and stay ahead in an ever-evolving industry.
With Praxi AI, insurers can focus less on compliance complexities and more on driving growth and innovation.
Why Choose Praxi AI
⏱️ Faster Implementation
Launch in weeks, not months, with no-code solutions.
✔️ Lower Compliance Risk
AI ensures accuracy and auditability in every step of the process.
🔄 System-Agnostic Integration
Connect with your current ERP, accounting software, or data warehouse seamlessly.
👥 Unified Collaboration
Bring finance, actuarial, and tech teams together with synchronized workflows.
📊 Real-Time Insights
Access dashboards that empower faster, smarter decisions.
How It Works
1. Data Collection
Seamlessly ingest and validate data from multiple systems, ensuring accuracy and consistency.
Our platform supports integration with various data sources, making it easy to consolidate information in one place.
3. Output and Audit Trails
Generate detailed, audit-ready reports with fully traceable data.
Every calculation and adjustment is logged, so you can confidently provide transparency for internal and external audits.
4. Submission
Submit your finalized reports on time with complete confidence. Our solution ensures all reports are formatted to meet regulatory requirements, helping you stay compliant and stress-free.
Each step is designed to simplify your compliance process and give you peace of mind.
We’ve simplified IFRS17 compliance into a clear, step-by-step process designed to save you time, reduce complexity, and ensure accuracy.
Our approach breaks down the requirements into manageable tasks, helping you navigate regulatory challenges with confidence and ease.
2. Rule Application and Workflow
Apply tailored rules for calculations, management, and compliance checks with ease.
Our intuitive workflow system helps you maintain control, ensuring every step aligns with IFRS17 standards while reducing manual effort.
Success Metrics
“Reduced reporting time by 40%”
A Tier-1 insurer slashed reporting time while increasing accuracy.
“Cut manual work by 70%”
A major insurer optimized labor for IFRS17 compliance by relying on Praxi AI’s automation.
> FAQs
How long does it take to go live?
Praxi AI’s no-code solution is designed for speed and efficiency, allowing most insurers to achieve full integration and functionality within just a few weeks. Our streamlined implementation process minimizes disruption to your operations, so you can start seeing results faster.
Is it compatible with our existing systems?
Yes! Praxi AI seamlessly integrates with all major ERP, accounting, and data platforms, ensuring you can leverage your current systems without the need for costly overhauls. This compatibility ensures a smooth transition and maximizes the value of your existing technology investments.
Can we customize the workflows to meet our specific needs?
Absolutely. Our platform is highly flexible and can be tailored to align with your unique requirements. Whether you need to adjust workflows, add specific features, or create entirely custom processes, Praxi AI is built to adapt to your business.
What kind of support do you provide?
We pride ourselves on offering top-tier support. Our dedicated team of compliance and tech experts is here to guide you every step of the way—from initial onboarding and setup to continued optimization and troubleshooting. We work closely with your team to ensure success and are always available to address concerns or implement improvements.
Speed and Accuracy for Your IFRS17 Journey
Bring intelligence and efficiency to your IFRS17 compliance process with our cutting-edge solution.
Streamline complex calculations, automate data handling, and eliminate manual bottlenecks that slow you down.
Say goodbye to errors and inefficiencies, and hello to audit-ready precision and confidence in your financial reporting.